Complete Guide to Taiwan's International Trading Platforms: In-Depth Review of 7 Major Forex Brokers

How Taiwanese Traders Can Find Reliable Forex Brokers

The first step into the Forex market is choosing the right trading platform. Different brokers vary greatly in regulatory qualifications, trading fees, leverage multiples, deposit and withdrawal methods, and more. These factors directly impact trading experience and risk management capabilities. This article provides an in-depth comparison of 7 active international trading platforms in Taiwan to help investors find the most suitable trading partner.

The Core Roles and Classifications of Forex Brokers

What is a Forex broker?

A Forex broker is an intermediary that connects retail traders with the global Forex market. Similar to stock brokers, Forex brokers provide individual investors with access to 24-hour currency trading. Unlike banks, which only offer basic currency exchange services, legitimate Forex brokers can offer trading in hundreds of currency pairs and related derivatives.

What are the differences between the two broker models?

Market Maker Model (DD): The broker acts as the counterparty, profiting from the bid-ask spread. Advantages include fast order execution; disadvantages include potential conflicts of interest—when traders lose, the broker profits.

Straight-Through Processing (STP) / Electronic Communication Network (ECN): These brokers send orders directly to the market, earning through commissions rather than acting as the counterparty. Features include transparent pricing, but higher trading fees may apply.

In-Depth Review of 7 Major Forex Brokers in Taiwan

1. Yuanta Futures - Pioneer in Local Regulation

Yuanta Futures obtained Taiwan’s leveraged trading license in 2017, making it the most regulated local choice.

Core Data:

• Regulator: Taiwan Financial Supervisory Commission Securities and Futures Bureau (FSB)
• Forex currency pairs: 35
• Leverage: 20-30x for regular clients, adjustable for professional clients
• Minimum trading unit: 0.01 lot
• Trading costs: Favorable spreads for Forex, precious metals, crude oil; overseas indices and stocks charged 0.01%-0.1%; no overnight fees

Suitable for: Traders preferring local regulation and willing to use higher initial capital. USD deposits and withdrawals via Yuanta Bank or Cathay United Bank are fee-free.

Trading hours: Monday to Friday, Winter Time 06:05–Next Day 06:00, Summer Time 05:05–Next Day 05:00.

2. Mitrade - A Localized Model of an International Platform

Founded in Australia, Mitrade has accumulated millions of global users and received awards such as Asia’s Best Forex Broker 2022 and Asia’s Best Mobile Trading Platform 2023. Its biggest advantage is comprehensive localized service.

Core Data:

• Regulator: Authorized by Australian CIMA, holding SIB license
• Forex currency pairs: 59
• Leverage: Flexible 1-200x
• Minimum deposit: $50 USD
• Trading costs: Zero commission, floating spreads, trading as low as 0.01 lot
• Supports NTD deposits and withdrawals

Highlights: Mitrade’s self-developed trading platform is optimized for beginners, offering negative balance protection (losses do not exceed principal), 24/5 Chinese customer support. New users receive $50,000 demo funds upon registration.

Suitable for: Small investors, beginners, traders needing convenient RMB deposits and withdrawals.

3. KGI Leverage Trader - Multiple Local Regulations Backing

KGI Futures’ leveraged trader is regulated by Taiwan’s Financial Supervisory Commission, Central Bank, and OTC Center.

Core Data:

• Forex currency pairs: 12
• Leverage: 20-30x
• Trading costs: Floating spreads + overnight fees; overseas indices charged 0.01%-0.50%; some products with minimum $5 per trade
• Platform: Nano Trading King

Fee details: USD deposits and withdrawals via Cathay United Bank, Taishin Bank, or China Trust Bank are fee-free.

Trading hours: 24 hours.

4. Far Eastern Bank Forex - A Traditional Bank’s Professional Choice

As a commercial bank in Taiwan, Far Eastern Bank offers margin trading services with 56 branches.

Core Data:

• Forex currency pairs: 15
• Leverage: Fixed 20x
• Account opening threshold: Over $10,000 USD
• Trading costs: Major currency pairs with 5 pip spreads (adjusted per market), other pairs vary, overnight fees apply, no commission

Suitable for: High-capital traders seeking bank-level risk control and traditional institutional services.

5. IG - The Oldest Global Broker

Founded in London in 1974, IG is a FTSE 250 constituent with offices in 17 countries.

Core Data:

• Regulator: ASIC Australia
• Forex currency pairs: 100+
• Leverage: Up to 200x
• Minimum deposit: $50 USD (credit card) or unlimited (wire transfer)
• Trading costs: No account fee, spreads from 0.6 for popular pairs, overnight financing, guaranteed stop premiums; withdrawal fee $15 per transaction
• Note: Inactive accounts for 2 years incur an $18 AUD monthly fee

Trading hours: Opens Monday 04:00, closes Saturday 05:00, operates 24 hours outside of special markets.

6. IC Markets - ECN Model’s Extreme Leverage Provider

IC Markets is an ECN international trading platform established in Sydney, Australia, in 2007.

Core Data:

• Regulator: ASIC Australia
• Forex currency pairs: 61+
• Leverage: Up to 1000x
• Minimum deposit: $200 USD
• Trading costs: Floating spreads + low commissions, accepting USD, EUR, and other international currencies depending on deposit method
• Withdrawals: No fee
• Trading hours: Monday 00:01–Friday 23:57 (server time)

Risk warning: Extremely high leverage carries the risk of margin calls; use cautiously.

7. CMC Markets - Institutional-Grade Choice Listed on LSE

CMC Markets is listed on the London Stock Exchange (LSE) and regulated by FCA, ASIC, FMA, among others.

Core Data:

• Forex currency pairs: 27
• Leverage: Up to 500x
• Trading assets: Nearly 12,000 CFD products (indices, stocks, Forex, bonds)
• Trading costs: Spreads from 0.7 (AUD/USD, EUR/USD), from 0.9 (GBP/USD, EUR/GBP); includes commissions and holding costs
• Deposit restriction: Only supports international bank wire transfers
• Note: Dormant accounts for 1 year incur an $15 USD monthly inactivity fee

Trading hours: Sunday evening to Friday evening, 5 days 24-hour trading.

How Traders Can Scientifically Choose a Platform?

Comprehensive Review of Fee Structures

Don’t just look at spreads and commissions—pay attention to:

• Hidden fees: Withdrawal fees, inactivity fees, currency conversion charges
• Overnight financing costs: Long-term holding expenses
• Service fees: Some platforms charge platform usage or data fees

How to Verify Regulatory Qualifications

Every regulated broker should have a unique license number. Verification steps:

1. Log into the broker’s official website and find the regulation info page
2. Confirm the regulator’s name, license number, and official verification link
3. When necessary, contact the regulator directly for verification
4. If the broker cannot clearly explain its regulatory status, consider it a red flag

Core Considerations for Fund Safety

Regulation not only ensures compliance but also provides investor protection mechanisms in case of broker default. For example, ASIC-regulated brokers must adhere to client fund segregation requirements, keeping client funds separate from the broker’s own funds.

Trading Platform Experience Evaluation

• Execution speed: Order delays directly affect fill prices
• Tool features: Chart analysis, indicators, automated trading support
• Client customization: Ability to adjust interface and workflow
• Mobile trading: App stability and feature completeness

Practical Convenience of Deposits and Withdrawals

Considerations include:

• Supported payment methods (bank transfer, credit card, e-wallet)
• Minimum withdrawal amounts
• Withdrawal approval times
• Currency conversion fees

How Do Brokers Earn Revenue?

Market Maker Opposite-Order Model

Market maker brokers place orders opposite to traders, profiting from traders’ losses. Although legal (due to fast execution), traders should choose market makers holding authoritative licenses to ensure fair treatment.

Liquidity Matching in Straight-Through Processing

STP brokers receive quotes from multiple liquidity providers and add a markup as commission; ECN brokers match orders directly to the market and charge trading commissions. In both models, brokers prefer higher trading volumes, profiting regardless of traders’ wins or losses.

Industry Practice of Hybrid Models

Most brokers operate using a combination of the above two methods and must hold authoritative financial licenses. Even with counterparty risk, the market always has losing traders providing profit sources.

Practical Account Opening Guide

Taking Mitrade as an example, the account opening process is simple and efficient:

Step 1: Online Registration
Fill in basic information and submit the application.

Step 2: Deposit Funds
Support multiple methods such as Skrill, Poli, Visa, MasterCard, bank wire transfer for quick deposits.

Step 3: Start Trading
Select products like EUR/USD, gold, crude oil, cryptocurrencies, or global indices for quick orders.

The entire process can be completed online, with accounts typically activated within 1-2 working days.

Frequently Asked Questions

Why must I choose a regulated platform?

Unregulated brokers face risks of no oversight. Platforms regulated by authoritative agencies must comply with industry standards, and traders can file complaints with regulators in case of disputes. Unlicensed brokers have no recourse. Additionally, regulators usually require client funds to be segregated from the broker’s own funds, protecting investors if the broker goes bankrupt.

How to identify false regulatory claims?

Carefully verify:

• Whether the regulator’s official website can verify the license number
• If the license number matches the one published on the broker’s website
• Whether there are expired or revoked records
• Whether the scope of regulation covers the services provided by the broker

How should beginners start Forex trading?

Recommended steps:

1. Choose a regulated platform supporting small deposits (50-100 USD)
2. Fully utilize demo accounts to familiarize with trading processes
3. Start live trading with the minimum lot size (0.01)
4. Establish strict risk management rules (e.g., risk no more than 1% per trade)
5. Continuously learn technical and fundamental analysis

Summary

Taiwanese traders should consider regulation background, fee transparency, trading tools, and customer service quality when choosing a Forex broker. Whether selecting a local broker or an international platform, verifying regulatory credentials is the top priority. The 7 platforms each have their own features—from Mitrade’s local focus to IC Markets’ ultra-high leverage, to veteran institutional-grade CMC Markets. Investors should choose based on their capital, risk tolerance, and trading strategies.

Remember: There is no perfect broker, only the one that best fits your trading style. Spend time researching before opening an account—this is far better than dealing with issues afterward.